"SEC Ruling Deems Coinbase Secondary Token Sales as Securities, Dealing Blow to Crypto Industry"

A federal judge ruled in favor of the SEC in a lawsuit against Sameer Ramani, finding that the crypto assets he purchased and traded constituted securities, even when sold on secondary markets like Coinbase. This ruling has significant implications for the broader crypto industry, as it supports the SEC's argument that the majority of crypto activity falls under its jurisdiction. The ongoing legal debate over whether crypto assets should be classified as securities continues to create uncertainty, with various federal judges taking different stances on the issue in cases involving major crypto exchanges and individuals accused of insider trading.